Adams Brown plans to acquire Fortner & Short; Gettry Marcus added Wagner & Zwerman; and Mugford & DiBella bought Fasulo & Albini CPAs.
M&A roundup: Adams Brown, Gettry Marcus and Mugford & DiBella expand
October 8, 2021 9:59 AM
CONNECTICUT: Mugford & DiBella buys Fasulo & Albini CPAs
Courtesy of Mugford & DiBella
The two firms are collaborating to provide a seamless transition of service for their clients. Mugford & DiBella earned approximately $900,000 in annual revenue before the acquisition, and Fasulo & Albini is expected to add about $3,000 in revenue, for a total of $1.2 million at the combined firm.
Two partners at Fasulo & Albini, Mike Fasulo and Marlene Albini, are becoming employees of M&D, but not partners, along with administrative assistant Tracey Mindlin. M&D had five staff members prior to the deal, and now has two partners and eight staffers.
“We are very pleased with this acquisition and how closely aligned our values professionalism and commitment to customer service are,” said managing partner, Brian DiBella in a statement Tuesday. “We look forward to working closely with all of our business clients through what continues to be a challenging and volatile economy.”
Mugford & DiBella dates back to 1942 and offers a number of accounting and strategic consulting services to businesses throughout Connecticut. In addition to offering accounting, tax and reviews, the firm provides bookkeeping, cash flow management, succession planning, payroll solutions and outsourced CFO services.
KANSAS: Adams Brown to acquire Fortner & Short
Courtesy of Adams Brown
Adams Brown has 19 partners and 265 total employees and earned annual revenue of $31 million. The firm ranked No. 13 on Accounting Today’s Regional Leaders list of the Top Firms in the Midwest in 2021. Adams Brown was also named the 11th Fastest Growing Firm by Accounting Today earlier this year. Fortner & Short has two partners: Richard Fortner and Tim Short. Financial terms of the deal were not disclosed.
“When two firms are grounded in how they treat their clients and their people, it’s a great cultural fit,” said Adams Brown managing partner Brian Staats in a statement. “This acquisition is a win for all involved.”
He plans to add the professionals at F&S to Adams Brown’s construction and small business teams. His firm serves 12 markets across Kansas and Arkansas and specializes in the agriculture, construction, manufacturing, medical practices, governmental, oil and gas, and restaurant sectors.
NEW YORK: Gettry Marcus adds Wagner & Zwerman
Wagner & Zwerman will become a division of Gettry Marcus and will continue to be based in its Melville, Long Island office.
Wagner & Zwerman partners Andrew Zwerman, Vincent Preto, and John Antinore, and their staff will continue to offer accounting, tax, and consulting services to their clients. The combined firm will have more than 150 employees.
Financial terms were not disclosed. Gettry Marcus ranked No. 30 on Accounting Today’s Regional Leaders list of the Top Firms in the Mid-Atlantic in 2021 with $26.43 million in annual revenue. The firm has offices in Manhattan and Woodbury, Long Island.
“This merger will allow both firms to focus on providing value-added as well as new services to our existing and prospective clients,” said Gettry Marcus managing partner Steven Marcus in a statement Thursday.
Wagner & Zwerman dates back to 1964. “We are excited about this merger and combining resources to help our clients grow,” said Wagner & Zwerman managing partner Andrew Zwerman in a statement.
